GC Rieber Shipping: Shearwater GeoServices awarded Barents Sea acquisition and processing contract by the NPD

Stock Exchange NoticeDate: 09 April 2019 GC Rieber Shipping: Shearwater GeoServices awarded Barents Sea acquisition and processing contract by the NPD GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a contract...

Stock Exchange Notice
Date: 09 April 2019

GC Rieber Shipping: Shearwater GeoServices awarded Barents Sea acquisition and processing contract by the NPD

GC Rieber Shipping ASA's 20% owned geoservices company Shearwater GeoServices ("Shearwater") is pleased to announce the award of a contract for a Barents Sea seismic acquisition survey with full data processing by the Norwegian Petroleum Directorate ("NPD").

Shearwater's Reveal software, which the NPD uses in-house, will be used for full onboard and onshore processing enabling close collaboration. Shearwater has previously processed 2D surveys for the NPD in the area and the experience gained will be used to support execution of this new project.

The 1-month survey starts in the third quarter of 2019 and will be carried out by the Amazon Conqueror equipped with Isometrix technology.

"We are very pleased to see our combined acquisition and processing services selected by the NPD for their 2019 Barents Sea project." said Irene Waage Basili, the CEO of Shearwater GeoServices. "It confirms our position as a leading full-service geophysical company."

For further information:
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 900 98 688

About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic.

The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels. GC Rieber Shipping currently operates 11 and has direct and indirect ownership in 23 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an additional 50% ship management company in Yuzhno-Sakhalinsk (Russia). The Company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

---